Business and Financial Policies and Procedures

2 Custodial Funds

To ensure compliance with GASB Statement 84, the term "Agency Funds" has now been changed to "Custodial Funds".

2.1 Policies for Managing Custodial Funds
2.2 Determine the Need for a Custodial Fund
2.3 Request Approval for a Custodial Fund
2.4 Comply with Unit Liaison Responsibilities for a Custodial Fund
2.5 Expend Custodial Funds on Behalf of Owner
2.6 Process a Transaction between the University and the Owner of Custodial Fund
2.7 Return Custodial Funds to the Owner

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